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ARTICLE · 10 FEBRUARY 2025

Public Comments On IBBI Discussion Paper On Streamlining Processes Under The Insolvency And Bankruptcy Code, 2016

IndiaLaw LLP
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The Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper on February 4, 2025, titled "Streamlining Processes under the Code: Reforms for Enhanced Efficiency and Outcomes.

IndiaInsolvency/Bankruptcy/Re-Structuring
Rahul Sundaram
Rahul Sundaram

Background

The Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper on February 4, 2025, titled "Streamlining Processes under the Code: Reforms for Enhanced Efficiency and Outcomes." This paper addresses various operational challenges encountered in the Corporate Insolvency Resolution Process (CIRP), Liquidation Process, and Insolvency Resolution & Bankruptcy Process of Personal Guarantors. The aim is to enhance efficiency, transparency, and effectiveness through key amendments to the relevant regulations. The IBBI invites public comments on these proposals to ensure comprehensive stakeholder input.

Timeline for Submission of Public Comments

Public comments on the proposals can be submitted electronically by February 25, 2025. The submission process involves visiting the IBBI website, selecting the relevant discussion paper, providing personal details, and submitting specific or general comments.

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